Cash Purchases Decline

According to RealtyTrac’s® U.S. Home & Foreclosure Sales Report, 24.6 percent of all single family home and condo sales in May 2015 were all-cash purchases, down from 28.5 percent in April and down from 30.4 percent in May 2014. In fact, the
24.6 percent rate represented lowest level since November 2009. The recent peak was 42.2 percent in February 2011.

Moreover, the share of institutional investors – those entities purchasing at least 10 properties in a calendar year – declined to to 2.4 percent in May, the lowest mark since January 2000.

This, of course, is good news for the first-time buyer who now face a bit less competition.

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